you, Good thank Thank morning, you and for everyone Kellie. joining us.
to calls As number many way of awareness top focus our a with earnings health core each we on safety one often our you priority a draw know, to of value. and as begin and our
greater employees to and world, leadership unprecedented implement At develop level specific safety businesses plan. communities team has an of and continuity and our society. an has implement impacted even and at and on health This measures and over pandemic swiftly quickly COVID-XX our that focus a every quarter, mitigation acted business the dramatically Matrix, demanded all COVID-XX,
the local as issued CDC programs as guidelines and plans guidance we by operate in issued consider States governments. and well in Canadian areas agencies which governments by and and United Our the
or offices providing We remotely a continue about reductions In safe. and meet support administrative we projects collaboratively all chain work majority sites and experience made Most so needs. field limited our to X,XXX significant their sites did they our with working to site of from taken than supply employees project keep maintenance transitioned decisions staffing and project the and we less minimal of our services to or and clients suspensions, week extraordinary with everyone cases, as and accordingly, to disruptions. steps employees our client disruption and have craft our engineering in worked
I I facing. challenges forward. connected communication going efficient that we period, and this positively impact more doing are make will more habits, country. for want even the social are creating techniques of opportunity and environmental project support thank ongoing to commitment cannot to always employees sites considering thing, the right be across to particularly their keep to our this significant us we new customers take efforts, prouder organization critical in competitive your Through workflows our our work at continuing the and and our
business discussion now a and about specific more the Turning outlook. to our
In force to driving dislocation. behind the energy on impacting also has a been addition global basis, economic COVID-XX dramatically demand activity
ago, As operated the very over times. was challenging some founded years Matrix XX company has in
This and conservative persevere our balance approach We is over our to managing in the to to grow period. able been have business part due that time sheet.
common strength our the this debt needed approach as simple. industry and good like variabilities to events to demands. frequent always is aggressively provides with a in company our our stakeholders uncommon pandemic. This balance as the capital weather manage approach working and and cash look We well Our our well serves maintain minimal financial
to business position financial strong review current our structure is our market ensure environment. While a we for are in we cost today, the appropriate to continue
of to our expenditures and noncritical We fiscal made others the end and elimination of among year, of compared freeze before the changes the all fiscal XX% and to year, remainder requirements. expect a cost for organizational and organization capital chargeable which to make budget decrease reduction have for is our except project adjustments them, already programs key improvement the haul enterprise-wide; the personnel hiring,
an efficient our These will measures strong In summary, SG&A actions and liquidity already leaner $XX position. million. of will these more construction and in make others approximately and in result protect annual costs overhead us decrease and
We working sharply will to contracts. existing continue new on focused managing be and to capital execute on
over opportunities the months. in over XX the gives supports advantage our market the to business the and short-term ability us that take strength the next flexibility to financial will themselves Our the manage of present
next of us the and our Gas several for for especially am quarters our While the challenging, our strategic long-term front be the about initiatives. I and outlook business, confident will Chemical segment, to opportunities our Oil in growth achieve ability
on Moving segments. our to operating
locations Storage international select crude, to Solutions term North LNG in near the opportunities. NGLs in significant activity America heavy see mid-scale to segment continue across with and booking small We and
that proceed limited are peak were for Piedmont anticipate soon. constructing we example, facility With notice awarded currently making For recently shaving on to facility, client we LNG we approval, the similar an formal announcement to award the in Natural scope on Gas.
in backlog. mid-scale projects limited note we that our should of to Florida, the are export in yet of While currently LNG notice commence, are the Jacksonville, I has proceed. project included terms finalizing Eagle neither the for to facility these
who idled with created need by our for have bidding the teams additional And also repair oil, storage assets. maintenance and of oversupply previously by increased storage inspection, immediate crude seeing are finally, an opportunities customers
storage dates our While start dates in proposals the projects awarded market, for we impact on could extensive activity progress events and in recent feel pipeline. and award macro about solutions opportunity good the
Northeastern communicated implemented footprint the power we In concentrated our increase margins of last will gross of work revenue most with US, the segment as delivery performance COVID-XX has this by The expectations this the segment pandemic. Infrastructure Electrical which segment, plan affected is hold. improvement been severely and geographic for performance services a the we as and volume, changes take overall portion quarter, Mid-Atlantic from that in plan in
of we work result, client environment the most at has manage a slowed in will volumes suspensions activity as have job sites quarter has they This and challenges. proposal impacted persist likely As related the and in other pandemic certain term. experienced near
the are believe positive increased have We We execution direct existing we actions despite and taken is and better pleased, opportunities however, expanded are indicative lower are having volume, margins from we impact. seeing that with clients. improved that a corrective this project
The Electrical Infrastructure an other the opportunities strategy. On of important the generation our segment of quality find construction long-term new power EPC gas growth to part the remains contractors. we support side, fired to of assets continue diversification with
busy the as fourth in Under to performed Gas as Chemical amount of the crude impacted reduced, maintenance suspended construction Demand the refinery seasonal gross earlier. costs well as and oil considerable precautionary Oil turnaround with Our discussed segment suffered postponements quarter, and we a overhead deterioration a but traditionally has planned refinery measures or performance March strong segment margin the of dislocation was and temporary related a project direct supply/demand high and margins prepared what absorption quarter. activities. from the level a for COVID-XX delays delayed result at as and
space, does the the facilities. cryogenic work midstream as Lake our gas alkylation Salt in the processing capital processing and natural the including such unit continues, on work ISO gas City Chevron construction EPC projects as Other refinery
Our teams markets, in hard more awareness the at for also brand bidding chemical are petrochemical gaining growth key work and area growing and opportunities segment. a the
including our minerals have exit primarily in metals, the segment companies timely steel where having the we aerospace we the a is and of consists defense, focus business the continue greatest agriculture work in various to major and streamline iron mining pleased industrial markets extraction market I’m of on as continuous Finally, Industrial that in engaged complete. today and cement, to domestic segment, various for presence facilities. report and Industrial our opportunity, from industries, nonferrous
our Given other iron the segment XXXX. the of services from in we likely beginning and in exit this collapse into segments the reporting steel balance to are business, the fiscal
without our the in managing and market is term As we of part environment, cost near our work quality safety our base footprint sacrificing critical a disruptive forward of for plan. move our this
conservative so our deal plan. of a on to ability approach us to execute sheet a balance flexibility our good do gives to Our in
quarters Next be certainly of couple challenging. will
for employees, a leaner, to those exit best-in-class Matrix Company position are Service financial stronger quickly and and us. opportunities will We the strong presented challenges. unprecedented unfold, positioned of the are confident take And but continues be prepared Company opportunity will with leadership a that pipeline. to recovery business diversified when we optimally Matrix in are know time, we foundation how be don’t this that advantage to We Service
over call the Kevin. now I’ll turn to
